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entrepreneurs

'Facebook for farmers' brings microloans to people in rural China

James I Davison's picture

The founders of a microfinance website I came across a few months ago are giving an interesting, benevolent twist to social networking. At least, that’s one way of looking at Wokai.org, a non-profit organization benefiting entrepreneurs in rural China.

Wokai has been dubbed by some as a “Facebook for farmers,” yet it may be more comparable to well-known microfinance sites like Kiva, which allow people with an Internet connection to give loans directly to entrepreneurs in developing countries. Wokai, however, focuses solely on impoverished people living in rural China.

Indonesia: Women in Nias have entrepreneurial spirit

Nia Sarinastiti's picture

Women entrepreneurs in Nias, Indonesia, describe how they manage community loans and expand business ventures.
In the many trips I've taken with the World Bank’s Indonesia Country Director, Joachim von Amsberg, I've always admired how indigenous locals interact with expatriates. I think from the curiosity of whether an expatriate really would like to engage with them and understand their needs, you can actually see the sparkle in their eyes to pose many questions.

In our visit to Hiliweto village of Gido district of Nias, the mission team visited the home of one of the women's group leaders to chat with informal women entrepreneurs on how they manage their community loans and expand their business ventures. At first, the group was reluctant to even answer a question, but Joachim broke the ice by agreeing to have the women ask about him – for example, where he comes from, married or not, children, etc. As the discussion went into a more relaxed mode, we asked what specific program benefits them the most. They all hailed microfinancing. Getting small loans is a common problem in Indonesia because credit is difficult to obtain from banks without having any collateral as a guarantee.

Grassroots Business Initiative shows social enterprises how to fish

Michael Figueroa's picture

The Grassroots Business Initiative (GBI) is the brainchild of the World Bank Group’s International Finance Corporation (IFC).  Launched in 2004, the GBI supports innovative social enterprises – dubbed Grassroots Business Organizations (GBO